In supply chain, it’s vital to find the right technology solution that supports real-time visibility and collaboration. The best concurrent planning software solutions will be connected end-to-end and built with the latest technologies like artificial intelligence (AI), machine learning, automation and more.
This type of advanced software enables cross-functional teams to collaborate and communicate seamlessly, share data, understand the impact of changes immediately and adjust plans accordingly. It also enables planners to quickly re-model alternatives and explore what-if scenarios to make decisions before disruption occurs. This is the key to faster response times, agility and resilience.
How Can Concurrent Planning Benefit Businesses?
In a competitive world, companies need to be as agile as possible. This is why concurrent planning is such an important tool for supply chains. It allows multiple departments to work together on supply chain optimization and ensures the company can meet demand and deliver on-time customer service. It’s also important to note that concurrent planning can improve performance metrics such as inventory management, production efficiency, on-time delivery and more.
This is all made possible by the most advanced concurrent planning software platforms that are connected end-to-end and feature advanced algorithms like multi-objective discrete optimization with goal programming. The top solutions will also support changing objectives as a dynamic parameter to enable planners to change the goals of the model and uncover new solution options. In addition to this, these tools will be able to manage complex models and analyze a large volume of data, all in a very short amount of time.